Tuesday, May 5, 2020

The Sensex Outlook for the Day - 05-05-2020

The correction seems to be over for now. Its time to get back into long positions in the NIFTY.
Add aggressive longs at the current levels and on dips till 31630/9270, keeping a closing SL at 31280/9170.
Avoid trading in stocks outside the F&O universe and keep SL at the stock level as well as at the Sensex/Nifty level.

Date5-May-20
IndexSensexNifty
S2           31,280             9,166
S1           31,632             9,269
Previous Close      31,715.35        9,293.50
R1           31,887             9,344
R2           31,913             9,351
Fair Value           33,494             9,815

Raghav's Picks Trading Range Indicator.png

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